Russian oil will be sought': What are Moscow's gains from the war in Iran?

"Russian President Vladimir Putin lambasted the killing on Saturday of Iranian Supreme Leader Ali Khamenei as a cynical violation of all norms of human morals and the international law. Kremlin spokesman Dmitry Peskov said US-Iranian talks about Tehran's nuclear programme degraded to direct aggression."

"Moscow's most immediate gain is a boost in its oil revenues. The price of Russia's Urals crude plunged to a new low in late February at $40 per barrel because of deep discounts caused by Western sanctions over the war in Ukraine. But as the price of the international benchmark Brent crude jumped by 13 percent by Monday, reaching $82 per barrel, Urals was traded at $57."

"Russia, Iran and Venezuela are the world's top producers of heavy crude that is exported to dozens of nations to be processed by their refineries. Venezuela's exports stalled after US special forces captured President Nicolas Maduro on January 3 and the White House gained control of Caracas's oil trade. The suspension of Iran's exports means that oil refineries designed to process heavy crude will have to rely on Russia."

Russia publicly condemned the killing of Iranian Supreme Leader Ali Khamenei as a violation of international law and human morals, with top officials including Putin, Medvedev, and Volodin criticizing the action. However, Russia stands to gain economically from the escalating conflict between Iran and Israel. As US and Israeli airstrikes continue, oil prices have risen significantly, boosting Russia's revenues. Urals crude prices increased from $40 per barrel in late February to $57 by Monday, following a 13 percent jump in Brent crude to $82 per barrel. With Venezuela's oil exports stalled and Iran's exports suspended, Russia, as a major heavy crude producer, benefits from reduced global supply and higher prices.

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